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APi Group Buys Chubb Fire and Security for $3.1 Billion

Carrier Global Corporation has agreed to sell its Chubb fire and security business to APi Group Corporation for an enterprise value of $3.1 billion. 

Headquartered in the United Kingdom, Chubb has approximately 13,000 employees globally and a sales and service network spanning 17 countries in Europe, Asia Pacific and Canada. Carrier’s global fire and security products business is not part of this transaction.

The proposed sale is subject to a consultation process and regulatory approvals. It is expected to close in late Q4 2021 or early Q1 2022. Management will provide additional details on the transaction and use of proceeds during its second-quarter 2021 earnings call on July 29, 2021.

BofA Securities is acting as financial advisor to Carrier, and Paul, Weiss, Rifkind, Wharton & Garrison and Linklaters are acting as external legal counsel.

Read more at Chubb

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The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

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